Short description
Suitable for various finance and management professionals whose work involves the development or use of complex spreadsheets and financial models, this text covers Excel 2007. It bridges the gap between the Excel manual and the finance textbook. It shows how-to approach to financial modelling and budgeting, with numerous worked examples.
Long description
Practical Financial Modelling is for all finance and management professionals whose work involves the development or use of complex spreadsheets and financial models. The second edition now covers Excel 2007. Chapter 1: Model structure now includes a review of non-spreadsheet modelling tools. Chapter 2: Quality control now contains a new section to include Excel's in-built audit functionality; and further audit checks. Chapter 3: Mainly formulae now includes a number of worked examples for eg cash cascades, cash sweeps, sinking funds etc. Chapter 5: Model use, has under gone a substantial revision, and now includes reporting and charting techniques.In order to accomodate both Excel 2003 users and new Excel 2007 users the book has an extensive appendix which shows how to do it in Excel 2003 and how to do it in Excel 2007 as comparison. This book follows on from the previous very successful first edition by offering a refreshingly simple approach to building and using financial models. Most models in use today are as unique as the individuals who create them, and because of this they can be difficult to understand or use with confidence.This book offers a critical insight into current practice and presents a clear and robust modelling methodology with the specific aim of reducing unnecessary complexity in favour of a simpler and more reliable approach, which will be of interest to both experienced and novice modellers. This methodology has been used for some of the most modelling intensive transactions in the world, but is also equally applicably to reader creating simple cash flow forecasts. Practical Financial Modelling bridges the gap between the Excel manual and the finance textbook. The principle is that once people have the ability to structure a model, they have a better starting point from which to address the financial calculations. Quality control is built in from the outset. The key themes of the book are model structure, audit, formulae and functions, and model use, using basic Excel functionality throughout.The author draws on years of teaching and consultancy to identify the elements of good practice and to highlight those areas and techniques which are prone to error and inconsistency. He explores the different ways in which problems can be solved by using practical worked examples. The reader can adapt the ideas and techniques for their own purposes. It is updated to include how-to-do-it in the new Excel 2007. Now, it covers Excel's in-built audit functionality, and reporting and charting techniques. It shows how-to approach to financial modelling and budgeting, with numerous worked examples.
Review
Five Star Reviews from Amazon.co.uk (all five stars): I attended one of Jonathan's courses recently and commented at the time that it was rather like the spreadsheet equivalent of going from an ordinary car to driving an F1 car! I have now read through his book and I can only say that this is a superb publication. It sets out how to do advanced spreadsheet modelling far better than anything else I have come across. This guide consists of 163 pages of text along with a CD containing Excel-based demonstration material...It offers detailed advice on preparing financial models using Excel spreadsheets, which is likely to be of use to both practitioners and students of practical financial modelling...Although there are many guides to Excel on the market, this one is distinguished by its emphasis on how to use the program for management accounting. Even the most experienced modeller will learn something from this resource.